Are You Prepared for Retirement? 40% of the UK Say They Aren’t

Britain is facing a future retirement crisis Рaccording to recently published data, the amount saved by the public will provide an income that falls short of living costs by almost £100 per week, and that is in the case of those people who have a plan. Two fifths of the British public, or 40% if that seems more massive an amount to you, say they are underprepared for retirement and many have no plan at all, choosing to continue working forever with the assumption that their health and ability to perform their job will stay good until they are in their late nineties.

With this looming on the horizon, Skipton Building Society established www.retiresavvy.co.uk, a free online resource dedicated to helping people manage all aspects of retirement. As their manifesto points out, they are dedicated not only to helping people to plan for retirement, but to helping retirees to redefine what that means, to get the most out of their new lease on life and defy societal expectations of what retirement should be.

Retiresavvy are working to cause a paradigm shift around the image of retirees – as they say, “waiting for God” will no longer cut it, and the “pipe and slipper” image of retired people is outdated when Britain is faced with its largest, fittest, most ambitious and most vocal retired population ever. The number of over-60’s in the UK now is now greater than the number of under-18’s, and to treat this entire subset of the population as doddering, hapless old folk is simply wrong. If retiresavvy get their way, that public perception will fall away in favour of the active, switched-on and savvy retiree image of the future, opening any number of doors to the retired population.

The home page includes a handy guide to getting your plans off their feet, simply by asking how prepared you feel for retirement. Based on the answer you give, a suitable advice page follows to help you either get started on your preparations, or continue and optimise plans you have already made. As well as honest, straightforward financial advice, they also aim to provide informative and often humourous articles on retirement itself, encouraging an active lifestyle that is engaged with the community. In all, it’s an absolute treasure trove of information, presented in an engaging and entertaining way that will keep you reading regardless of how prepared you feel.

With 40% of Britons unprepared for their coming retirement, this service could not have come too soon. A straightforward, unbiased resource that views retirement as another exciting beginning in your life, and wants to help you enjoy it to the best of your ability, however you see fit – this is just the sort of thing we needed to see. With sites like this springing up, there isn’t an excuse not to be prepared. Your retirement is on its way – and with retiresavvy, you’ll be ready to make the most of it when it gets here.

  • Jordan

    Well aren’t 40% of the UK under 30 years old anyway? I’m 24, no way I give two shakes of a gorillas tail about retirement at my age. By the time I’m approaching retirement they’ll probably have phased retirement out, OAPS wil be working as uber drives and the like to supplement their savings.